In The Last 40 Years, The Hollywood Box Office Has Slumped To Its Lowest In 2020

Hollywood box office fell 80% unprecedented in North America in 2020 as cinemas and studios closed due to the coronavirus pandemic and studious postponed the release of a number of new movies.

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North American box office revenue was just $2.2 billion in 2020, and it was $11.4 billion in 2019. A great slump occurred during this pandemic. This revenue is the lowest among the last 4 decades. In 1981, the box office generated almost $918 million on the release of Superman II, which was the biggest movie at that time.

Comscore does not public global data for 2020, but Variety said a 71% drop in global profits. The pandemic forced studios around the world to close in March, bringing several chains like AMC Entertainment to the brink of bankruptcy.

There is still time to reopen theaters in the largest US markets in Los Angeles and New York City. A handful of almost 274 movies – including blockbusters like Top Gun: Maverick, No Time to Die, and the Fast and Furious 9 action movie – have moved their release date by 2021.

In The Last 40 Years, The Hollywood Box Office Has Slumped To Its Lowest

The Bad Boys for Life movie, released in January last year and the highest-grossing film in North America by 2020 with $ 206 million. Avengers: Endgame owns a home box office for $858 million in 2019.

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–Bilal Asghar

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Muhammad Bilal

Bilal Asghar is the founder and CEO of Subrays Inc.

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